GM Cuts Global Auto Industry Sales Forecast; 2009 Down 15%
15 Januar 2009 - 9:23PM
Dow Jones News
General Motors Corp. (GM) on Thursday forecast that global auto
industry sales would fall by 15% in 2009, reducing planning
assumptions across all of its key regions.
The largest U.S. auto maker by revenue cut its guidance for
North American light vehicle sales to 10.5 million, at the bottom
of a range running up to 12 million provided in December.
Industry sales in western Europe are forecast at 13.5 million,
below the 14 million run-rate in December, and the company also
reduced forecasts for some key emerging markets that had previously
propped up the industry.
Fritz Henderson, GM's chief operating officer, said 2009 sales
in Russia could fall to 3 million from 4.1 million last year.
The forecasts made by GM at a Deutsche Bank conference in
Detroit showed that, in most markets, demand isn't expected to
return to 2007 levels for some time, if at all.
The North American forecast is in line with its key rivals. Ford
Motor Co. (F) said this week it expects an annualized sales rate of
10.3 million for the industry in the first quarter, with Chrysler
LLC (C.XX) predicting 10.6 million in the same period.
GM said it expects North American industry sales to recover to
12.5 million in 2010.
-By Doug Cameron, Dow Jones Newswires; 312-750-4135;
doug.cameron@dowjones.com
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